Washington Post,December 31, 2008 on page A15:
Amity Shlaes,a senior fellow at the Council on Foreign Relations, published such article: "Modern economists, monetarist or Keynesian, have not rejected this story of trouble with the 1930s. My comment: Irving Fisher's Quantity Theory of Money may be a truism but the expanding credit system has updated new situations. Cf. Theory of Equation of Exchange Revisited,published by the Atlantic Economic Journal for reference. Keynesian Cross Model encounters contractionary and expansionary gaps for the ever-searching optimum equilibrium point to be debated under the empirical evidence nowadays. Nobody has the pat answers but innovative policy would improve the financial crisis on the global scale.
Today, uncertainty also chills. Questions abound over the future regulation of stocks and derivatives, over tax policy,over bailouts. All this makes it hard for the market to settle on equity or home prices. Americans follow stories about Paulson,Geithner - more than they do the news about the FED or the Treasury. Conclusion: A new hundred days spent making good laws will bring sturdy recovery. A hundred days spent making more deals will not.
We are looking forward for the new President for making changes for a better America in fairness and justice.
Francis Shieh a.k.a. Xie Shihao making comments on December 31, 2008 at 10.25 a.m.
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